View more on these topics

PruProtect reveals gender pricing plans

PruProtect will switch to gender-neutral pricing on 21 December for all products except its whole-of-life plan, which will switch on 3 November.

PruProtect says there is a greater risk of underwriting uncertainty for this product because the sums assured are generally greater and the life assured is generally older, so underwriting takes longer.

PruProtect will guarantee gender-neutral rates for customers if all of the underwriting has been completed by 21 December. Customers will then have 90 days to take up the cover.

It has also set up a gender-neutral unit to assist in the application process and to ensure applications are able to get through before gender-specific pricing is banned.

PruProtect head of account development Phil Jeynes says: “We recognise there is a lot of pressure on advisers to give clarity to their customers in the run up to G-day. We hope that by announcing these measures we have achieved that.”

Lifesearch senior policy adviser Matt Morris says: “This method makes it clear what advisers need to do and by when if their clients are to get cheaper rates.”

Aviva and Friends Life are yet to release their gender neutral pipeline plans.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com